2023 MKD to RSD Historical Review

YEARLY HIGH

1.9309 RSD

YEARLY LOW

1.8717 RSD

YEARLY AVERAGE

1.9039 RSD

2023 MKD to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MKD to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on November 14, valuing the pair at 1.9309. Conversely, the yearly low was recorded on July 13, dropping to 1.8717.

This high-to-low spread represents a total annual volatility of 0.0591 RSD. From a start-to-finish perspective, comparing the January average rate of 1.9029 to the December average rate of 1.9036, the exchange rate registered a net change of 0.03% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.9309 was down 0.51% compared to the 2022 peak of 1.9407, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 MKD based on timing:

Yearly Peak High 9,654 RSD

2022 Average 9,533 RSD

Yearly Trough Low 9,359 RSD

Transaction Impact: A difference of 295.73 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.9064

1.9009

JanuMarcMayJulySeptNove

MKD to RSD Seasonal Trends & Volatility Analysis

A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.

Seasonal Halves (H1 vs H2)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 1.9035, compared to 1.9043 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0007 points.

H1 Avg (Jan–Jun) 1.9035

H2 Avg (Jul–Dec) 1.9043

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.0485 RSD (High: 1.9203 / Low: 1.8717). On the other end, September was the most stable month, with a tight range of 0.0097 RSD (High: 1.9098 / Low: 1.9001).

July Spread (Volatile) ±0.0485

September Spread (Stable) ±0.0097

Growth Streaks & Declines

Trends

Between June and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.0034 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0034

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2023: 1.9026) against the same month in 2022 (average: 1.9013), the exchange rate shifted by +0.0013 (+0.07%).

2023 Avg (November) 1.9026

2022 Avg (November) 1.9013

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.9200	1.8741	1.9029
February	1.9278	1.8848	1.9059
March	1.9238	1.8870	1.9025
April	1.9172	1.8962	1.9045
May	1.9191	1.8942	1.9041
June	1.9072	1.8838	1.9013
July	1.9203	1.8717	1.9035
August	1.9105	1.8907	1.9045
September	1.9098	1.9001	1.9059
October	1.9182	1.9004	1.9056
November	1.9309	1.8873	1.9026
December	1.9103	1.8865	1.9036